A power system, such as a power grid, is in general sensitive to load variations and to faults occurring in the power system. Therefore, various compensating techniques have been developed in order to provide power system stabilization.
Flexible Alternating Current Transmission Systems (FACTS) are known to improve the stability and capacity of power systems by providing power compensation by generating or consuming reactive power in an AC portion of the power system. Compensating equipment includes switchable capacitor banks, reactors and power electronic devices such as voltage source converters and STATCOMs.
Although means for stabilizing a power system exist, there is still a need for improvements in power system stabilization. Moreover, there is a need for reducing costs which arise when providing such stabilization.